Customers at a branch of VPBank in Hanoi. (Photo courtesy of VPBank) Four banks, VPBank, HDBank, MB and Vietcombank have just adjusted its credit room for the third time this year.
According to VNDirect's data, VPBank has the highest credit growth at this time, adding up to 11.5%, bringing the credit growth for the whole year to 27.2%.
This result is higher than VNDirect's previous forecast of 23% and 20.2% higher than last year, followed by HDBank and MB with the limits extended by 5.1% and 5% respectively.
It brings the full-year credit growth at these two banks to more than 23% and also higher than VNDirect's previous forecast of 20%.
As for Vietcombank, the credit room was added by 0.9%, meaning their full-year credit growth could reach 18.6%.
Up to this point, these are the four banks that are granted the highest credit room in the system, while the remaining banks have only 10-15% room for the whole year.
Based on VNDirect's calculations for 18 banks, about 80% of system credit, the total credit growth of this group after the adjustment will reach about 13.6% by the end of the year.
"This is a move to reallocate credit lines among commercial banks and the State Bank's target of 14% is still maintained," VNDirect said.
At the beginning of September, the State Bank of Vietnam had an additional adjustment of credit limits for many commercial banks, including the above four banks.
The additional credit growth limit ranges from 0.7 - 4%; in which, Sacombank was granted an additional maximum limit of 4%.
Representatives of banks said that with the additional credit room, banks would continue to control credit growth in essential sectors and industries of the economy, priority areas of the Government, well control liquidity and credit risk, ensure that bad debt ratio is controlled at a low level.
The State Bank of Vietnam said that the adjustment of the credit room was based on the assessment of the operation of credit institutions in accordance with its regulations, contributing to controlling inflation and stabilises the money market.
At the same time, credit institutions are encouraged to improve their business administration, operational safety, and healthy banking system.
In response to experts' suggestions about the full-year credit growth target that can be adjusted to 15% - 16%, Nguyen Thi Hong, SBV Governor said credit management was a very important tool to focus on controlling inflation this year and next.
The State Bank of Vietnam will continue to maintain its credit growth target of 14% for this year and its consistent policy management is right and won, which is highly appreciated by international organisations.
A report by the SBV’s Monetary Forecasting and Statistics Department shows that credit growth has reached 10.96% and credit demand is forecasted to continue to increase in the last months of the year as of September 28./.
VNA
